Information and advice from Business Link, DirectGov, ACAS and other sources
- Pensions and retirement
Help your employees receive the appropriate state or occupational pension owed to them - Pensions information from the BBC
- Retirement - the process to follow
What to do when someone retires - confirming the leaving date, conducting exit interviews and making bonus payments - Providing support for a retiring employee
Gradually reducing working hours, pre-retirement counselling and/or financial advice can help an employee - The removal of the default retirement age Following the recent government announcement that the default retirement age is to be abolished, Penningtons Solicitors LLP has provided the following useful information for employers.
- Removal of the default retirement age - advice for businesses from Business Link
- Retirement Counselling Service - Opens in a new window
Find out more about the Retirement Counselling Service - Early retirement
Rules and implications for employers and employees if an employee retires before the statutory date - Ill-health-related early retirement
Ensuring that ill health is the actual and fair reason for early retirement - Ill health and early retirement advice on the Pensions Advisory Service website
Gives the procedures that occupational pension managers must follow when deciding to grant an ill-health pension - Download flexible retirement guidance from the Department for Work and Pensions website
How to manage an ageing workforce and the flexible retirement options available to employers - Download guidance on age discrimination and retirement from the Acas website
Information on following the statutory retirement procedure - Retiring employees guidance on the Employers Retirement website
Help and advice for business on handling employees’ retirement - Download Flexible retirement and Retirement: Age Positive guide from the DWP website
Flexible retirement and Retirement: Age Positive guide - Download Retirement Practices - making the right choice from the DWP website
Download the Recruitment Practices guide from the DWP website. - Social Security and Pension Rights
Guide to Social Security and Pension Rights for employers and employees (Business Link) - Pensions and Retirement Planning
Comprehensive guide on the DirectGov web site covering state, company and personal pensions, Pension Credits and retirement planning, getting a pension forecast, etc. - Pensions - The Basics; a Guide from the Government
This guide will help you understand the basic facts you need to know about pensions, including:- what is available to you from the State when you retire;
- some of the financial choices you can make to prepare for your retirement;
- where you can go to get more information so you can start planning for your retirement now; and
- practical and realistic steps you can take to help you save for your retirement.
- Pension Calculator from the Financial Services Agency
You can use the FSA/ABI pension calculator to see how much income you might get when you retire from what you save now or in the future. All you need to do is answer a few questions about the amount you are contributing or plan to contribute to a pension, and the calculator will give you an idea of how much income this will produce when you retire using today's prices. The calculator can only deal with new contributions made through a personal pension, group personal pension or stakeholder pension. It can't deal with any pension funds you may have built up already.
Guidance booklets from DWP, FSA etc. (list from Business Link)
- Search Business Link web site for Pensions
- Promoting pensions to employees - A guide for employers
Guide for employers on providing pensions to employees. Published by: Financial Services Authority - Pensions for the self-employed
Factsheet on stakeholder pensions, decision trees and a pensions table. Published by: Financial Services Authority - A guide to state pensions
Information about the state pension scheme, for use by employers, pension scheme providers and advisers. Published by: Department for Work and Pensions - Combined pension forecasts - Technical guide
Implementing combined pension forecasts for pension scheme providers or employers with occupational schemes. Published by: Department for Work and Pensions - Pensions - the basics
Guidance on pensions and retirement planning, including state and personal pension schemes. Published by: Department for Work and Pensions - A guide for employers - Stakeholder pensions
Guide to implementing and managing a stakeholder pension scheme. Published by: Department for Work and Pensions - A guide to combined pension forecasts
Guide to state/private pension forecasts for scheme providers or employers with an occupational scheme. Published by: Department for Work and Pensions - Contracted-out pensions - Your guide
Information about leaving (contracting out of) the State Second Pension. Published by: Department for Work and Pensions - Permitted business for stakeholder pension scheme manager
Guide to the regulations relating to company pension schemes. Published by: Financial Services Authority - Stakeholder pensions - FAQs
Frequently asked questions about stakeholder pensions. Published by: Pensions Regulator - Stakeholder pensions - quick guide for employers
Guide for employers to pensions choice in the workplace. Published by: Pensions Regulator - The Financial Services (Cancellation of Stakeholder Pension Schemes) Rules 2000
Regulations relating to the cancellation of company stakeholder pension schemes. Published by: Financial Services Authority - The pensions review: recalculating loss (and redress) for phase 2 transfers
- Guidelines for SERPS-related pensions adjustment, recalculation and compensation. Published by: Financial Services Authority